Bonds & Bitcoin Dump, Dollar & Crude Jump As Leading Economic Index Hits 8 Year Lows

The day started off with a slow and gentle selloff in equity futures overnight and then US Leading Economic Indicators  tumbled to their lowest since 2016 (with ironically and reflexively, only stock returns holding the index above some very ugly levels)...

...but interestingly, STIRs ignored it and shifted more hawkishly (with the market now pricing in just a 50% chance of a second rate-cut this year)...

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